Alternative Capital Business Financing and Funding

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What are alternative business loans available for many Small Business Owners?

As many business owners have experienced, getting traditional bank loans from traditional lenders such as a bank or credit union for your business is a challenge. Alternative business lenders (online lenders) have come on the scene to provide alternative business loans and other business financing options that are more flexible funding sources than traditional lenders can provide. An alternative lender will have greater flexibility with small business financing, as they don’t have depositors like a bank or credit union does.

Alternative lenders are at the forefront of providing businesses with alternative finance options that suit the pace of their growth. Alternative funding options are available to secure businesses credit in numerous forms, including small business loans and guarantees, equipment financing, asset-based lending, invoice factoring, and merchant cash advances, among others. As a leading alternative business financing company, AdvancePoint Capital has assisted companies of all sizes and in most industries to obtain the financing their enterprise requires to thrive by offering one or more of these financing options. Essentially, we’re in the game of turning the seemingly impossible into the possible. Alternative lenders offer a wide range of alternative finance options that businesses can take advantage of to develop, grow, or even multiply. Online lenders financial options can help bring the right funding at the right time.

Features and Benefits

AdvancePoint Capital offers alternative business loans that best serve the immediate needs of the business owner. We pride ourselves on providing:

  • Fast approval
  • Lines of credit up to $500,000
  • Flexible repayment terms
  • All personal credit scores considered
  • Simple application process
  • Catered to your timeline

Financing a small business venture is often easier said than done. The red tape that must be negotiated with a traditional lender before funding is approved often feels insurmountable. Even an established business owner have to jump through hurdles for funding approval from business lenders that can delay the start of a new project.

The reality is that we live in a world where time is of the utmost essence. Information is more than readily available and the race is on like never before for true innovation. You simply don’t have the time to be sitting around waiting for finance to come through while your competition soars ahead of the flock.

It is the aim of alternative lenders to remove the stopping blocks to entrepreneurial flow by bringing funding options and small businesses into alignment with one another. What’s more, we do it in a way that doesn’t discriminate, welcoming applications from small businesses with a range of credit histories.

Types of Alternative Business Financing Options

There’s a wide range of alternative lending options that small businesses can take advantage of instead of relying on a traditional financing from banks or credit unions. Whether you’re dealing with less than stellar credit, limited time in business, estimated annual gross sales limitations or you’re lacking the financial paperwork to obtain traditional loans, alternative finance opportunities exist to help. Let’s explore the various alternative loan options that business owners can use to their benefit.

Business Term Loans

Both short term and long term business loan financing solutions can be a great alternative loan option that empowers companies. When financial circumstances demand for funding for business owners, it’s better to have both long and short term business loan options available.

Short term business loans have a much shorter repayment period which reduces the risk to lenders. These are also smaller loans compared to other alternative solutions. With a fixed amount of upfront capital and fixed payback over a fixed term, short term small business loan options can be a sound choice.

Long term business loans offer a different approach and are defined as a specific loan amount with a repayment schedule of 2-25 years. It’s principal and interest rate are fixed or adjustable, and the repayment process is either monthly or bi-monthly. These loans are typically harder to get and are for more well-established and successful businesses with solid financial paperwork.

Lines of Credit

A flexible solution to alternative financing is a business line of credit. These allow business owners to obtain a funding source that resembles that of a credit card, in that you take what its necessary and only pay back on what you use. Traditional bank options have long offered these lines of credit, but they are difficult to get approved for compared to a financing alternative like AdvancePoint Capital.

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Business Line of Credit

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Invoice Factoring

For small businesses with overdue invoices or late-paying customers, getting cash flow in the door for working capital can be a massive problem. Invoice factoring gives small businesses the opportunity to leverage outstanding invoices for cash on hand. Perhaps the best part is that the invoiced customer is the one that’s business credit checked — so it’s a great solution for those businesses struggling with creditworthiness.

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Invoice Factoring

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Merchant Cash Advance

Merchant cash advances allow businesses to leverage their future credit and debit card sales for quick cash flow. Financial circumstances or even seasonal trends may hinder certain businesses and their ability to obtain a bank loan. So, a merchant cash advance is a great alternative to traditional business loan options because it offers a lot of flexibility and can be obtained without stellar credit.

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Merchant Cash Advance

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Business Credit Cards

Another alternative finance route is business credit cards. These offer a lot more flexibility than traditional loan options that your small business can take advantage of. With a revolving line of credit, you’re able to draw money up to a limit and only pay on what you borrow. It’s a financial solution that offers a lot of freedom compared to traditional financial institutions.

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Equipment Loans

For many businesses, equipment plays a major role in the success and growth of the company. Luckily, equipment loans allow businesses to leverage their equipment purchases as collateral in order to acquire the funding necessary for a wide range of needs. Terms for equipment loans are typically longer than most other traditional funding options and can be up to 5 years.

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Equipment Loans

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Business Loan Terms

In our experience, we have found that a common thread among most of our clients is their need to obtain business financing as quickly as possible. As a result, we have found that they seek alternative lenders out for one of the following reasons:

  • They do not qualify for business funding from traditional banks. Business owners will have approached a traditional financing institution, such as their bank, only to find that their small enterprise does not qualify for funding. This is frustrating and can result in the stalling of a business’s journey from concept to actualization. Time and again, we have found that before throwing in the towel, they turn to us for more flexible funding options that serve the needs of their business.

  • They need immediate cash flow. The timeline between application and the bank’s financing decision does not mesh with their firm’s almost immediate need for cash. Instead, AdvancePoint Capital provides business financing options often at the speed that your business, well, does business.

  • They have bad credit. We will not discount your application based on negative personal credit reports like traditional lending would. We consider clients with a range of ratings, from outstanding to poor. We don’t believe a negative credit report should prevent you from financing a future opportunity.

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How to Obtain Alternative Financing: What are alternative methods of financing from Alternative Lenders?

The entire alternative financing process—from application to funding—can take less than one business day with alternative lenders. That means that in less time than it takes you to come up with loans application and required documents, you can expect an offer in hours. While banks require extensive paperwork and personal financial records to be submitted, online lenders have a simple online application process. Alternative lending only requires one page application form that is easy to fill out and submit, and there is no need for an in-person consultation.

All you need to provide an alternative lender is:

  • A simple one-page application document, to be accessed through our website

  • Active business bank account-Business Bank Statements so that we can assess both the needs and viability of your business. (It’s important to note that we not only focus on profit/loss, but also on gross sales. This could be particularly relevant to you if you are still in the early stages of small business development.)

  • Proof that you have been in business for a minimum of 6 months. (Please note that we do not accept startups.)

We need minimal paperwork, and you’ll have your alternative business financing decision within hours. If accepted, your money is immediately available and repayment terms are flexible. That means you can focus on the implementation of your next big idea, rather than worry where the next bout of alternative funding will come from. As a result, you can get in step with the needs of your business as soon as possible. We’ll serve you so that you can better serve your clients.

In return, we require that repayments are made over a period of 12 months or less. Interest rates are dependent on your gross sales.

Frequently Asked Questions from Business Owners

A simple online search Not all alternative lenders are created equal. It depends on the type of alternative finance product you’re looking at. Some alternative finance options like long-term loans and SBA loans are difficult to get approved for, while others such as a merchant cash advance have very lenient requirements. However, compared to traditional options — alternative finance routes are far easier to get approved overall.

Well, it all depends on your financial circumstances, creditworthiness, and business documentation as well as alternative lender. Some alternative finance routes require little to no credit check on behalf of the small business, while other alternative loans will require strong credit histories. However, compared to traditional financial institutions such as banks, alternative finance options are far more lenient with credit requirements.

Some are, and some are not. Alternative finance options are vast and diverse, which means some will be far more likely to lend to a startup business than others. Traditional financial institutions have some startup-friendly options available such as SBA, however, they can be difficult to get approved for and are extremely time-consuming. Alternative finance companies like AdvancePoint Capital have funding solutions that you can get approved for in just one day.

The best alternative finance options depend on your industry, current financial circumstances, future plans, credit history, time in business, and financial statements. Luckily, there are tons of options you can research and use to your benefit.

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We got into the business of alternative financial services because we believe in the long term potential of small business owners to drive the economy, create jobs, and provide needed services. If we can work toward making that happen through convenient alternative loans, we will be able to make strides toward the kind of thriving economic environment that benefits all tiers of society.

If your bank or traditional lenders have not offered your business the financing options and timeline your enterprise requires, contact AdvancePoint Capital today for alternative lending solutions. We want to help you grow your business and will work hard to help you obtain the financing your company depends on. Just fill out and submit our form, or give us a call at (800) 381-8920. Our representatives are available 24/7 to assist you. Call today!

The fast, convenient and straightforward way to get the money you need for your business when you can't get a traditional bank loan!

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